Gwei
What Is Gwei
Gwei is a unit of measurement within the Ethereum network that simplifies the handling of very small amounts of Ether (ETH), the cryptocurrency used for transactions and services on the Ethereum blockchain. One Gwei equals one billionth of an Ether (0.000000001 ETH). It is particularly useful for calculating gas fees, which are required to perform transactions and execute smart contracts on Ethereum.
The Ethereum network employs "gas" to quantify the computational effort needed to complete transactions and run smart contracts. Although gas fees are paid in Ether, the small amounts involved make it more practical to use Gwei. For instance, instead of stating that a transaction costs 0.000000021 ETH, it is more convenient to express it as 21 Gwei.